Two mines currently operating on limited scale in Ecuador. Initial JV capital will increase production by upgrading milling operations and hiring more skilled workers. Assuming all available adjacent properties were to be acquired and expanded with a total projected investment of US$26 mil., the company could become a mid-tier gold producer in Ecuador.

Production goals with the total JV financing needed would be:

• 50,000 oz. of gold production within first 12 months
• 100,000 oz. annual gold production within 2-3 yrs.
• 200,000 oz. annual gold production within 3-4 yrs.

Posted May 4, 2013

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